Gold Slips to Three-Week Low on Inflation and Rate Fears
Gold hit a three-week low Tuesday as rising oil prices fueled inflation concerns. Markets now await interest rate decisions from several major central banks.
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Gold fell 1.4% to $4,614.71 per ounce on Tuesday, marking its lowest price since April 7. Brent oil rose above $110 a barrel after United States and Iran negotiations stalled. Investors are pivoting toward interest-rate risks as energy-driven inflation increases the likelihood of tighter monetary policy.
